Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, November 13th, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be paid a dividend of 0.275 per share by the financial services provider on Friday, January 12th. This represents a $1.10 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Thursday, December 28th. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.24.
Four Corners Property Trust has a dividend payout ratio of 70.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Four Corners Property Trust to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 66.9%.
Shares of Four Corners Property Trust (FCPT) traded down $0.27 on Monday, hitting $25.82. 317,200 shares of the stock traded hands, compared to its average volume of 336,262. The stock has a market capitalization of $1,580.08, a P/E ratio of 19.27 and a beta of 0.09. Four Corners Property Trust has a 1-year low of $17.53 and a 1-year high of $26.39.
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Several research analysts recently commented on FCPT shares. BidaskClub downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, October 17th. Canaccord Genuity began coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They set a “hold” rating and a $26.00 target price on the stock. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Four Corners Property Trust in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.25.
About Four Corners Property Trust
Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.
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